China levels playing field for foreign asset managers

China's regulators are to allow wholly foreign-owned enterprises WFOEs to invest in Hong Kong-listed stocks and provide clearer rules on interbank bond investing so that they can compete more fairly with domestic players.

The new policies, rolled out under the guidance of the China Securities Regulatory Commission CSRC, send a strong signal to the international market that China is opening up the asset management industry, the Asset Management Association of China Amac said on August 9.

“Their investment scopes have been enlarged, enabling them to compete in almost the same way as domestic fund houses this is a good thing,” said Rachel Wang, director...